Dunman Road site is the latest release in 1H2022 GLS land sale
Dunman Roadway has actually just been launched by the Urban Redevelopment Authority (URA) as part of the Government Land Sales (GLS) Program for the very first half of 2022 (1H2022).
It was one of six personal property sites on the 2H2021 Reserved Listing in 2015 and was transferred to the Confirmed Checklist this year.
The land parcel covers 2.52 hectares (271,250.5 sq ft) as well as has a maximum gross floor location (GFA) of 88,321 sq m.
Zoned household with a potential return of about 1,035 devices with a maximum height of approximately 20 storeys, the task is the largest scale amongst the 5 task sites in 1H2022 and is taken into consideration a mega-development.
According to the Added Purchasers Mark Responsibility (ABSD) judgment, designers have to complete and also sell the whole advancement within five years to get back 25% of the land price, despite the project dimension.
With pandemic-induced hold-ups affecting the supply chain as well as construction timelines, it continues to be seen exactly how it will certainly impact the Dunman Roadway website tender bids.
The residential market stays robust
According to Ms Tricia Tune, Head of Study at CBRE Southeast Asia, the self-confidence of developers in the Singapore household market is mirrored in the robust tenders of current land sales.
The Dunman Roadway land parcel is 1km away from the Jalan Tembusu GLS website, which saw eight bids as well as was purchased by City Dope Limited (CDL) for S$ 768m (S$ 1,302 psf ppr) in January this year. Freehold advancement Thiam Siew Opportunity was sold for S$ 815 million (S$ 1,440 psf ppr, thinking 7% bonus porches) in November 2021.
Based upon both previous land sales, it is forecasted that the Dunman Roadway site will certainly obtain six to 8 proposals from developers forming joint collaborations to expand their dangers, with a top quote of S$ 1,300 to S$ 1,350 psf ppr.
Facilities near Dunman Road site
For amenities, there are 3 malls positioned 10-minutes away by bus.
City Plaza is a mixed-use development with five floors of traditional retail stores offering various products, from furnishings to garments. Moms and dads can head to Kinex (formerly known as OneKM), where they can select from 10 enrichment centers to send their youngsters to. Kinex has a broader variety of dining alternatives contrasted to City Plaza.
Alternatively, Paya Lebar Quarter (PLQ) Mall is the most modern amongst the three shopping malls, real estate 191 stores with a varied range of retail and eating choices that will satisfy every impulse and also fancy of residents around. It attaches to Paya Lebar MRT station.
The famous Old Flight terminal Road Food Centre & Shopping Center at 51 Old Flight Terminal Road is a 7-minute leave, where there’s a cornucopia of tasty as well as inexpensive hawker food to tickle every tastebud.